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  "documentTitle": "2024 AI Maturity Index 2024",
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  "notes": "Includes a pull-quote from Michael Park (ServiceNow).",
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      "text": "Sooner or later, organizations that lack clear KPIs for their AI investments will struggle to get them funded.",
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      "text": "AI investment: 8.7%",
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      "text": "Respondents have been steadily allocating funds to AI efforts over the past few years—and this is not expected to slow down. Nearly four out of five (79%) increased their AI investment since 2023, with the average increase being 8.7%. Just as many (81%) plan on increasing this spend over the next year at a similar rate (9%). Almost one-fourth (22%) expect the percentage of tech budget allocated to AI to increase by over 15% in the next fiscal year.",
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      "text": "These responses may seem relatively optimistic, but the reality for most could be quite different because KPIs are measured inconsistently. And this is where Pacesetters are starkly different from others. Nearly two-thirds of Pacesetters (62%) strongly agree they have a defined set of metrics in place to measure the impact of and return on AI transformation, while a meager 28% of others share this conviction. Takeaway: Sooner or later, organizations that lack clear KPIs for their AI investments will struggle to get them funded.",
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      "text": "While executives have aggressive spending plans, the ROI today may not be keeping pace with expenditures. Execs have identified important business outcomes they want to achieve: increased efficiency and productivity (81% \"very important\" and \"extremely important\" responses",
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      "text": "Navigating the many dimensions of AI adoption can thwart even the savviest of companies. Making sure strategy and leadership, workflow integration, skills, and governance are all addressed requires both careful management and adequate funding.",
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      "text": "combined), improved customer experience (79%), revenue growth (78%), risk management (75%), and cost reduction (75%). Most are not yet seeing significant ROI on their investments to help them achieve these outcomes. Across business areas, roughly two-thirds of survey respondents (65%) say they are achieving positive ROI—but only 23% say this ROI has been significant (over 15%). And while most are experiencing at least some type of return so far, over one-fourth (27%) say they are breaking even. A small percentage (7%) are actually losing money so far.",
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      "kind": "paragraph",
      "text": "Michael Park, Head of AI Go-to-Market, ServiceNow",
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      "text": "Fortunately, organizations appear to be setting aside large budgets for technology—and AI receives a healthy portion of that budget, according to our survey. On average, 9% of their overall revenue are dedicated to technology efforts. Over the past year, 15% of that budget was allocated to AI capabilities. Our survey respondents have an average revenue of $645 million, with about $58 million of that spent on technology and $8.7 million on AI. This allocation is highest in the banking and technology industries (17% each) and lowest in the public and nonprofit sectors (14% and 13%, respectively).",
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      "text": "While Pacesetters are likely to experience greater ROI, even the most mature AI businesses have yet to realize transformative benefits. Although more Pacesetters have realized significant ROI than other organizations, only about one-third have seen returns of 15% or more in any business area (see Figure 7). Even though most organizations are seeing moderate returns on their AI investments, they are building a strong foundation on which to scale AI capabilities across the enterprise over time. New use cases will emerge, and employees will continue to find innovative ways to implement AI models into their workflows.",
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      "kind": "quote",
      "text": "Unlike other technologies we've employed in the past, AI is a learning algorithm. When it runs, it gets better and better. So, the question is, how do you think about return on investment when you know that?",
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      "text": "Unlike other technologies we've employed in the past, AI is a learning algorithm. When it runs, it gets better and better. So, the question is, how do you think about return on investment when you know that? — Michael Park, Head of AI Go-to-Market, ServiceNow",
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      "text": "Enterprise AI Maturity Index 2024 in partnership with Oxford Economics",
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